ETF outflows of 643 million dollars on 30 October are still hanging over Bitcoin. 📉
CNBC TV18, via TradingView on 3 November, reports that United States spot Bitcoin ETFs recorded around 643 million dollars in net outflows on 30 October, their largest single day withdrawal since June, with Vikram Subburaj, CEO of Giottus.com, noting the reversal in ETF flows after the late October selloff added to pressure on Bitcoin. 📰 My reading is that institutional flow is the missing buyer right now, because retail dip buying alone rarely reverses a market when ETF money is leaving, and that is why Bitcoin is struggling to reclaim 78,374 dollars. The next ETF print, plus midterm results and Friday jobs data flagged by KuCoin, will tell us whether the outflow was a one day shock or a new trend.
Do ETF flows turn back positive this week, or does the outflow streak continue? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
CNBC TV18, via TradingView on 3 November, reports that United States spot Bitcoin ETFs recorded around 643 million dollars in net outflows on 30 October, their largest single day withdrawal since June, with Vikram Subburaj, CEO of Giottus.com, noting the reversal in ETF flows after the late October selloff added to pressure on Bitcoin. 📰 My reading is that institutional flow is the missing buyer right now, because retail dip buying alone rarely reverses a market when ETF money is leaving, and that is why Bitcoin is struggling to reclaim 78,374 dollars. The next ETF print, plus midterm results and Friday jobs data flagged by KuCoin, will tell us whether the outflow was a one day shock or a new trend.
Do ETF flows turn back positive this week, or does the outflow streak continue? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinETF
